I understand that the bankruptcy stays on your credit bureau for 7 years. Is that 7 years from the date of discharge or 7 years from the date of filing for bankruptcy?
bankruptcy and iimpact on credit
posted by Questions @
1 Expert Comment:
At June 30, 2009 |
7:32 am
, Bart Goth, Trustee in Bankruptcy Said...
The impact on your credit as a result of filing for bankruptcy is that you will have an R9 listed with the credit bureau for 6 years from the date that you are discharged. This is the maximum time that the R9 will be registered as long as we are talking about a first time bankruptcy, multiple bankruptcies are a different story.
It is also important to recognize that this is worst case scenario, with a little effort it is possible to repair your credit significantly quicker than this, although it does take a little bit of effort on your part.
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